Energizer Ultimate Lithium finished first overall, and it earned it: the highest capacity in the comparison at 3,635 mAh, the
lightest cell at 14.83 g, and the best cold result of any battery here at 1.20
V under a 1.25 A load after a freezer soak. It is also the most expensive
battery in the group at $2.50 a cell, so it makes the most sense in devices
where a battery change is a nuisance — trail cameras, smoke detectors, remote
sensors, anything that lives outdoors in winter.
POWEROWL is the better buy for most people. It finished second at 3.5 with
3,514 mAh, held 1.20 V under load at room temperature and 1.05 V after the
freezer, and costs $1.58 a cell — about 37% less than the winner for a result
that is within a rounding error of it on capacity. PKCELL took third at 4.0
with 3,513 mAh at $1.33 a cell, the cheapest lithium tested. Between those two,
buy whichever is cheaper on the day; both run circles around every alkaline in
this comparison.
If alkaline still makes sense for low-drain gear, Energizer Max led on capacity
at 2,584 mAh and Duracell was close behind at 2,465 mAh with the best alkaline
voltage under load at 1.27 V. VARTA is the value play at 16 cents a cell,
though at 2,053 mAh you are buying quantity rather than endurance, and Powermax
should be avoided anywhere cold — it sagged to 0.97 V at room temperature and
0.67 V after the freezer. The wider lesson from the flashlight run is that
alkaline output decays continuously from the first minute, so a device gets
dimmer or slower every time you use it, and alkaline cells are the ones that
leak and ruin the device they are sitting in. On the rechargeable side, seven
years and roughly 2,500 cycles left Eneloop in a class of its own at 48 mΩ and
0.90 V under load, while three of the twelve cells no longer hold any charge at
all.